Also, before you buy another property you'll want to determine your ideal next property - meaning, will it be a "rent ready" house, a major renovation project, or somewhere in between.

I love the cities that are like an hour outside of major metros, more affordable but still get some of the sprawling growth.

That literally a major city of homeless. 

Even if you're in a local 50+ league and want to be competitive, a coach is probably over-kill.

Majority of banks, credit unions, and hard money lenders are cutting back.

That said, the overall market is still grappling with major challenges, and inventory remains one of the biggest obstacles.So, what does this mean for you?

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

What happens if he has a major expense? 

I'm curious what the demand is for midterm rentals...outside of major metropolitan areas.  

Plano is a major job market to the South.